BOJ's Kuroda says no plan now to abandon negative rates

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Tuesday he had no plan now to abandon negative interest rates, despite the rising cost of the measure including the impact on financial institutions’ profits.

“We may adjust interest rates in the future depending on price developments. But I don’t have any plan now to raise short-term rates from the current minus 0.1 percent or abandon negative rates,” Kuroda told an upper house confirmation hearing.